Analyst, Third Party Management - Toronto, Canada - Scotiabank

Scotiabank

Verified Company

Toronto, Canada

1 week ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Requisition ID: 173618

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Position
Analyst Third-Party Management

Purpose

The Third-Party Analyst - Technology is responsible for building, maintaining, and enhancing relationships with IT vendors and internal stakeholders (such as IT leadership and end users).

This role serves as liaison to the business.

They are tasked with ensuring IT and business requirements align to specifications and priorities, and they are also tasked with arbitration with IT vendors.

The role is also responsible for the IT Vendor's Risk, Performance, Financial and Contract obligations.

The Third-Party Analyst - Technology will be assigned to a significant vendor relationship, working as part of the Third-Party Management Team.

Spanish language proficiency would be beneficial.

The role will manage the vendor relationship through the provision of independent oversight and governance, in alignment with relevant BNS frameworks/methodologies, and with business and enterprise objectives.

Provide leadership, direction and coaching to stakeholder teams(s) while partnering with business and executive stakeholders within a line of business.

Accountabilities
Vendor Contracts

Adhere to contract management objectives, procedures, templates and workflow processes for vendor contracts and deliverable schedules. Maintain an updated contract management database that contains all executed contracts, as well as contracts that are under development but are not yet active. Moreover, track obligations, deliverables and contract change notices. Manage and control access to documents as appropriate.
Work with all teams (security, compliance and tax, HR, accounts payable [AP], and so on) to ensure that vendors are performing in accordance with existing requirements and regulatory obligations.
Make improvements to processes, procedures, workflow and organizational structures for contract management.
Administer commercial and financial arrangements with vendors to facilitate billing, invoicing, performance incentives and remedies, and internal chargebacks, where appropriate.
Work with vendors and key stakeholders to assist in facilitating clear contract change control processes.

Vendor Management

Effectively communicate a clear and concise contract overview as part of the contract review process (summary of key contract terms, risks, opportunities and service delivery guidelines) to key stakeholders, and provide clarity on contract elements when required.
Develop/administer regular reports on volumes, execution and risk, and inform internal customers, vendors and management of activities and progress through regular written and verbal communication.
Provides strategic guidance to business/functional leaders to ensure escalated concerns/governance issues are appropriately managed
Review proposals/recommendations related to vendor services and practices in connection with the vendor(s)
Deals with a range of complex issues and policies in the management of the vendor(s)
Interprets data and assesses risks associated with policies/programs and provides recommendations/escalates as appropriate
Report on vendor performance.
Proactive identification, mitigation, monitoring, and management/resolution of Third-Party risks, including risks that are specific to an individual vendor (e.g. Financial Health) and external risks (Political, Economic, Social, technological, Legal, Environment) that may impact vendors
Negotiate resolution of issues/disputes including contracts with settlement details
Identify opportunity areas and help implements plans, business cases, etc. to execute opportunities to reduce cost, increase revenue, improve operational efficiencies, and better manage risk
Participate in the communications process with the vendors, utilizing various communication forums with internal and externally facing audiences. Ensuring internal communication alignment and protocol with internal stakeholders for consistent vendor messaging and interactions

IT Governance

Collaborate with internal stakeholders and external third parties to increase velocity and value realization, while mitigating supply and regulatory related risks.
Establish mutually beneficial relationships with third parties including collaborating to jointly identify and implement innovation opportunities
Adhere to standardized Third-Party management processes for Technology to comply with TPRM policies and standards

General

Understand how the Bank's risk appetite and risk culture should be considered in daytoday activities and decisions.
Works closely and effectively with assigned business partners to ensure their requirements are met
Accountable for the quality of advice and support provided to the business and achievement of the lines of business overall objectives in relation to the vendor
Creates an environment in which his